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Started By
Message
Ochsner CEO sees $130M loss in two months amid coronavirus fight
Posted on 4/18/20 at 9:42 am
Posted on 4/18/20 at 9:42 am
quote:
Ochsner Health System, the largest hospital network in Louisiana, expects to lose tens of millions of dollars in revenue due to the cancellation of elective surgeries and other procedures, a financial predicament confronting many hospitals even as coronavirus patients continue to arrive for treatment.
Ochsner Chief Executive Warner Thomas told employees Friday in an email and video message that the number of patients across the health care provider's hospitals and clinics has fallen by as much as 70%, pushing the non-profit's revenue lower by an expected $130 million in March and April alone. At the same time, costs for personal protective equipment, lab work and additional beds have risen.
“Certainly the fact that we've had to cancel elective surgeries, cancel many of the things we do in our clinics, has created a significant shortfall for us economically," Thomas said in a video message to staff.
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Posted on 4/18/20 at 9:43 am to John88
Loss in revenue does not equal loss, fyi
Posted on 4/18/20 at 9:44 am to John88
quote:
pushing the non-profit's revenue lower by an expected $130 million
Posted on 4/18/20 at 9:45 am to Rouge
quote:
Loss in revenue does not equal loss
Wow
Posted on 4/18/20 at 9:45 am to John88
State medical board supposed to open up outpatient stuff shortly
Posted on 4/18/20 at 9:45 am to WPBTiger
you think non-profits like this don't rely on revenue?
revenue isn't profit, brotha
revenue isn't profit, brotha
Posted on 4/18/20 at 9:46 am to John88
quote:
non-profit's
Alrighty then.
This post was edited on 4/18/20 at 9:47 am
Posted on 4/18/20 at 9:46 am to Rouge
quote:
Loss in revenue does not equal loss, fyi
...
Posted on 4/18/20 at 9:46 am to WPBTiger
You don't think non-profits have revenue?
Posted on 4/18/20 at 9:47 am to Tygerfan
quote:
How the hell are are they considered a non-profit when all they do is collect profit from customers?
profit = revenue - operating costs
Posted on 4/18/20 at 9:47 am to WPBTiger
quote:
non-profit's
Just because they are a non-profit, doesn't mean they can survive losing money.
Posted on 4/18/20 at 9:47 am to Rouge
See yourself out the door rouge
Posted on 4/18/20 at 9:48 am to Tygerfan
quote:
How the hell are are they considered a non-profit when all they do is collect profit from customers?
Posted on 4/18/20 at 9:48 am to SlowFlowPro
quote:
profit = revenue - operating costs = 30mil yearly bonus for CEO
Fixed
This post was edited on 4/18/20 at 9:50 am
Posted on 4/18/20 at 9:49 am to Tshiz
quote:
Wow
I know. This isn't exactly the Havard business school here.
Where is TulaneLSU?
Posted on 4/18/20 at 9:50 am to lsugolfredman
You can't lose something you never had
The projections ended up being way off because of covid
These were elective procedures. The negativity of those not coming back to oschner is an accountant trick to take huge losses to alleviate tax burden
I wouldn't expect the OT to understand
The projections ended up being way off because of covid
These were elective procedures. The negativity of those not coming back to oschner is an accountant trick to take huge losses to alleviate tax burden
I wouldn't expect the OT to understand
Posted on 4/18/20 at 9:52 am to Tygerfan
quote:
30mil yearly bonus for CEO
you think a non-profit is offering stock options, let alone ones worth $30M?
Actual numbers
2 CEOs (don't know why) made about $2.5M combined
Posted on 4/18/20 at 9:53 am to castorinho
quote:
How the hell are are they considered a non-profit when all they do is collect profit from customers?
Well that’s embarrassing
Posted on 4/18/20 at 9:54 am to John88
But plenty of people here have told me the government and hospitals were pumping up covid numbers to get boat loads of cash.
This post was edited on 4/18/20 at 11:35 am
Posted on 4/18/20 at 9:54 am to Rouge
quote:
These were elective procedures. The negativity of those not coming back to oschner is an accountant trick to take huge losses to alleviate tax burden
The negativity is a loss in revenue. It was stated in the OP.
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